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Note 6. Financial Assets

2020

$'000

2019

$'000

Note 6A: Cash and Cash Equivalents

Cash on hand or on deposit

41,244

28,143

Total cash and cash equivalents

41,244

28,143

Accounting Policy

Cash is recognised at its nominal amount. Cash and cash equivalents include:

a) cash on hand

b) demand deposits in bank accounts with an original maturity of 3 months or less that are readily convertible to known

amounts of cash and subject to insignificant risk of changes in value.

The closing balance of cash does not include amounts held in trust. Refer Note 22 "Royalty Assets Held in Trust" for further information.

2020 $'000

2019

$'000

Note 6B: Trade and Other Receivables

Goods and services receivables

Goods and services receivables

1,239

1,864

Total goods and services receivables

1,239

1,864

Grant receivables

External parties

484

55

Government entities

582

225

Total grant receivables

1,066

280

Total trade and other receivables (gross)

2,305

2,144

Less impairment loss allowance

Grants receivable

-

(40)

Goods and services

(119)

(105)

Total impairment loss allowance

(119)

(145)

Total trade and other receivables (net)

2,186

1,999

Credit terms for goods and services were within 30 days (2019: 30 days).

Accounting Policy

Financial assets

Trade receivables and other receivables that are held for the purpose of collecting the contractual cash flows where the cash flows are solely payments of principal and interest, that are not provided at below market interest rates, are subsequently measured at amortised cost using the effective interest method adjusted for any loss allowance.

2020

$'000

2019

$'000

Note 6C: Lease Commitment Receivables

Lease commitment receivables relate to the investment of properties owned by the Group with lease terms of between 1 to 5 years. The future minimum lease payments are as follows:

No later than one year

218

372

Later than one year and not later than five years

-

32

Total lease commitment receivables

218

404

The lease commitments represent the non-cancellable portion of current leases of the Group's properties, and amounts are inclusive of GST. There were no contingent rents recognised as income in the period.